@article{ART003399422},
author={Sung-Jin Kim and Kim Sun Jib},
title={A Study on an Asset Valuation Model (MIIM) under the Paradigm Shift of the AI Era},
journal={Journal of Internet of Things and Convergence},
issn={2466-0078},
year={2026},
volume={12},
number={5},
pages={19}
TY - JOUR
AU - Sung-Jin Kim
AU - Kim Sun Jib
TI - A Study on an Asset Valuation Model (MIIM) under the Paradigm Shift of the AI Era
JO - Journal of Internet of Things and Convergence
PY - 2026
VL - 12
IS - 5
PB - The Korea Internet of Things Society
SP - 19
EP -
SN - 2466-0078
AB - With the advent of the AI era, AI-driven assets have a new value creation structure, including turning data into assets, nonlinear expansion of intelligence, and reducing infrastructure costs.To fully reflect these characteristics in the traditional discounted cash flow (DCF) method, we need to make the connection from data, AI performance, and computing infrastructure to cash flow more concrete. So, this study set its focus on three main pillars: data monetization, intelligence scalability, and infrastructure costs, seeing the process of IoT data turning into AI learning resources as the key source of value. Also, based on discussions about scaling laws, Metcalfe's law, and the dilution of infrastructure costs, we proposed the MIIM (Macro-Intelligence Investment Mechanism) equation P = α + β1(D·M) + β2 ln(I) - β3Y + ε. This study used historical stock prices and financial data publicly available at each forecast date for NVIDIA, Alphabet, and Tesla. We structured this as a financial proxy indicator and set the first 24 quarters as the training period, with the next 16 quarters as the out-of-sample evaluation period to check prediction performance. As a result, MIIM outperformed all benchmarks, and we verified that all three hypotheses H1, H2, and H3 were supported in terms of both expected signs and statistical significance. This has academic significance as it structures the value-forming factors of AI assets and connects the three theoretical discussions into a single model. It’s also significant because it presents an analytical framework that can verify differences in value drivers by company type through estimated coefficients and predictive assessments.
KW - Macro-Intelligence Investment Mechanism (MIIM);AI asset valuation;Scaling Laws;Metcalfe’s Law
DO -
UR -
ER -
Sung-Jin Kim and Kim Sun Jib. (2026). A Study on an Asset Valuation Model (MIIM) under the Paradigm Shift of the AI Era. Journal of Internet of Things and Convergence, 12(5), 19.
Sung-Jin Kim and Kim Sun Jib. 2026, "A Study on an Asset Valuation Model (MIIM) under the Paradigm Shift of the AI Era", Journal of Internet of Things and Convergence, vol.12, no.5 19.
Sung-Jin Kim, Kim Sun Jib "A Study on an Asset Valuation Model (MIIM) under the Paradigm Shift of the AI Era" Journal of Internet of Things and Convergence 12.5 19 (2026) : 19.
Sung-Jin Kim, Kim Sun Jib. A Study on an Asset Valuation Model (MIIM) under the Paradigm Shift of the AI Era. 2026; 12(5), 19.
Sung-Jin Kim and Kim Sun Jib. "A Study on an Asset Valuation Model (MIIM) under the Paradigm Shift of the AI Era" Journal of Internet of Things and Convergence 12, no.5 (2026) : 19.
Sung-Jin Kim; Kim Sun Jib. A Study on an Asset Valuation Model (MIIM) under the Paradigm Shift of the AI Era. Journal of Internet of Things and Convergence, 12(5), 19.
Sung-Jin Kim; Kim Sun Jib. A Study on an Asset Valuation Model (MIIM) under the Paradigm Shift of the AI Era. Journal of Internet of Things and Convergence. 2026; 12(5) 19.
Sung-Jin Kim, Kim Sun Jib. A Study on an Asset Valuation Model (MIIM) under the Paradigm Shift of the AI Era. 2026; 12(5), 19.
Sung-Jin Kim and Kim Sun Jib. "A Study on an Asset Valuation Model (MIIM) under the Paradigm Shift of the AI Era" Journal of Internet of Things and Convergence 12, no.5 (2026) : 19.
